Retirement Systems of Alabama Sells 621 Shares of The Hershey Company (NYSE:HSY)

Retirement Systems of Alabama reduced its stake in The Hershey Company (NYSE:HSY) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,941 shares of the company’s stock after selling 621 shares during the quarter. Retirement Systems of Alabama’s holdings in Hershey were worth $6,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HSY. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Brighton Jones LLC grew its position in shares of Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. Valley Brook Capital Group Inc. raised its stake in Hershey by 1.5% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after purchasing an additional 61 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in Hershey by 10.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock worth $119,000 after purchasing an additional 61 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Down 2.9 %

Shares of HSY opened at $172.46 on Thursday. The firm has a fifty day moving average price of $179.25 and a 200-day moving average price of $187.95. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $34.90 billion, a P/E ratio of 19.87, a P/E/G ratio of 4.24 and a beta of 0.37. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.18%. Hershey’s payout ratio is 63.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HSY shares. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Piper Sandler raised their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays reduced their price target on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group lowered their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Six investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $185.17.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.